The Treasurer’s Guide to Trade Finance

(Martin Jones) #1

India


Exports


ƒ A certificate of origin, bill of lading and
packing list, commercial invoice, foreign
exchange control form, inspection report,
shipping bill, technical standard certificate
and a terminal handling receipt.


ƒ Goods and software with a value of over
USD 25,000 must also be declared to the
customs authority (www.cbec.gov.in).


Licences


Imports


ƒ Aircraft, some animals, arms, antiques,
plants, seeds and meat. (Licences are
obtained from the Directorate General of
Foreign Trade — http://www.dgft.org.))


Exports


ƒ Goods covered by international treaty
obligations, such as those regarding security
and the environment.


ƒ Goods restricted unless carried with a
licence include textiles, animals, chemicals
and agricultural items.


Tariffs/Taxes
Imports
ƒ Most non-agricultural goods imported to
India are subject to a maximum import tariff
of 10 percent.
ƒ Cigars, cheroots and cigarillos are subject to
a 60 percent import duty.
Exports
ƒ Taxation rates of between 10 and 60 percent
exist for the export of certain animal skins,
leathers and hides.

Financing requirements for imports/
exports
ƒ None.

Prohibited items
Imports
ƒ Precious and semi-precious stones, seeds,
plants, animals, drugs, chemicals and
pharmaceuticals.
Exports
ƒ Items prohibited in accordance with
international treaty obligations and UN
Security Council resolutions.
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